Zacks: Brokerages Expect KB Home (NYSE:KBH) Will Post Quarterly Sales of $951.27 Million

Equities research analysts predict that KB Home (NYSE:KBH) will report $951.27 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for KB Home’s earnings, with the highest sales estimate coming in at $960.00 million and the lowest estimate coming in at $937.40 million. KB Home posted sales of $811.48 million in the same quarter last year, which would indicate a positive year over year growth rate of 17.2%. The company is scheduled to announce its next earnings results on Tuesday, March 24th.

On average, analysts expect that KB Home will report full-year sales of $5.21 billion for the current fiscal year, with estimates ranging from $5.09 billion to $5.31 billion. For the next fiscal year, analysts anticipate that the business will post sales of $5.53 billion, with estimates ranging from $5.40 billion to $5.68 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow KB Home.

KB Home (NYSE:KBH) last released its quarterly earnings results on Thursday, January 9th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.02. KB Home had a net margin of 5.90% and a return on equity of 11.99%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the company earned $0.96 EPS. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year.

Several equities research analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of KB Home from $34.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Goldman Sachs Group assumed coverage on shares of KB Home in a research note on Friday, December 6th. They set a “neutral” rating and a $36.00 price target on the stock. BTIG Research reaffirmed a “hold” rating on shares of KB Home in a research note on Thursday, September 26th. Bank of America raised their price target on shares of KB Home from $33.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Finally, KeyCorp raised their price target on shares of KB Home from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $33.79.

In related news, CEO Jeffrey T. Mezger sold 3,100 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $36.00, for a total value of $111,600.00. Following the transaction, the chief executive officer now owns 1,061,326 shares in the company, valued at $38,207,736. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO William R. Hollinger sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $36.15, for a total transaction of $2,169,000.00. Following the completion of the transaction, the chief accounting officer now owns 220,027 shares in the company, valued at approximately $7,953,976.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 284,743 shares of company stock worth $10,311,459. Insiders own 7.32% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of KBH. Balyasny Asset Management LLC raised its holdings in KB Home by 666.7% in the second quarter. Balyasny Asset Management LLC now owns 2,881,172 shares of the construction company’s stock valued at $74,133,000 after buying an additional 2,505,382 shares during the period. Nuveen Asset Management LLC raised its holdings in KB Home by 804.2% in the second quarter. Nuveen Asset Management LLC now owns 485,166 shares of the construction company’s stock valued at $12,483,000 after buying an additional 431,512 shares during the period. Millennium Management LLC raised its holdings in KB Home by 68.1% in the third quarter. Millennium Management LLC now owns 929,694 shares of the construction company’s stock valued at $31,609,000 after buying an additional 376,477 shares during the period. Hennessy Advisors Inc. purchased a new position in KB Home in the fourth quarter valued at approximately $11,268,000. Finally, Luxor Capital Group LP purchased a new position in KB Home in the third quarter valued at approximately $11,057,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Shares of KB Home stock traded down $0.40 during mid-day trading on Monday, hitting $36.33. 328,800 shares of the stock were exchanged, compared to its average volume of 1,721,443. KB Home has a twelve month low of $19.25 and a twelve month high of $37.59. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 0.92 and a beta of 1.24. The company has a 50-day simple moving average of $34.70 and a 200 day simple moving average of $31.51. The company has a current ratio of 1.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.82.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers.

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Earnings History and Estimates for KB Home (NYSE:KBH)

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